Genesis Mining Cuts Fees to Compensate Falling Crypto Prices

Genesis Mining is reducing the upgrade prices and the maintenance fees on one of its plans in order to compensate for the falling crypto prices and mining rewards.

by Nina Dimitrova
17 August • 1.5 mins
In Mining

Genesis Mining, a cloud-based cryptocurrency mining service, announced it is lowering the mining fees for its clients in compensation for the falling crypto prices.


According to the Genesis blog post, the company has been watching the market and following their clients’ comments on the declining mining rewards.


The company also noticed that some of their users are now mining less than the daily maintenance fee and have entered the 60-days grace period. After its expiration, the open-ended contracts will be terminated.


So the company decided to offer those clients the opportunity to upgrade their mining accounts to Radiant contract terms with a premium discount.


„The pricing of Radiant was constructed for the sole purpose of keeping your hashpower running even in the toughest market conditions,“ Genesis said. „The idea behind this offer is to show that we are well aware of the situation. As strong believers in the industry and its potential, we are certain the market will soon recover. We want to help you to keep mining!


During the campaign, the price of the upgrade to Radiant Gold has been cut by $105, to $180 and the daily maintenance fee was reduced to $0.14. The run time will be converted from open-ended, to 5 years with no termination.


Genesis Mining offers cloud-based mining services with several different subscription plans. Clients of the company can mine Bitcoin, Dash, Ether, Litecoin, Monero and Zcash.